Guideline Value for ROTARY NAGAR 10TH TO 16TH STREET/CROSS ST

Rotary Nagar 10th To 16th Street/Cross St guideline value

The current guideline value for Rotary Nagar 10th To 16th Street/Cross St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Rotary Nagar 10th To 16th Street/Cross St has changed

Over the years, the guideline value for Rotary Nagar 10th To 16th Street/Cross St has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where it was Rs 2,010 per sq.ft. The value remained at Rs 3,000 per sq.ft in 2023, before increasing by 10% to Rs 3,300 per sq.ft in the 2024 revision.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Rotary Nagar 10th To 16th Street/Cross St below that median.

• Rotary Nagar 17th Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 1st Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 2nd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 3rd Street/Cross St: Rs 3,300 per sq.ft (2024)
• Rotary Nagar 4th Street/Cross St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rotary Nagar 10th To 16th Street/Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rotary Nagar 10th To 16th Street/Cross St?

The Sub Registrar Office that covers Rotary Nagar 10th To 16th Street/Cross St is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are documented at a fair value.

When a property is sold, the seller and buyer must consider the guideline value to calculate stamp duty and registration fees. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value for Rotary Nagar 10th To 16th Street/Cross St?

The current guideline value for Rotary Nagar 10th To 16th Street/Cross St is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2017 to 2023?

The guideline value increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, which is a change of 49%.

What is the land classification for Rotary Nagar 10th To 16th Street/Cross St?

The land classification for Rotary Nagar 10th To 16th Street/Cross St is Residential Class V Type - III.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Rotary Nagar 10th To 16th Street/Cross St is 7% of the guideline value or the sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.